Is CAN still the next VEN?I haven't posted in a long time but I have to say what has happened with CAN is just depressing for all the longs. The questions is why did CAN not recover? That is the real question to be asked. I am not saying that SH users like Moneycop are worth their salt, but there is some truth, no matter how you look at it that CAN did not recover any ground when compared to say Newstrike Capital (V.NES). I spoke with Meg Brown about the TSX listing and she told me they are hoping to get it completed by the end of 2011 but they are no longer the market cap leader on the venture board, well duh!
It has been frustrating for the longs, we keep throwing around the term "market conditions" as an excuse for CAN's weakness, but in truth there is more to the story then we retailers are being told.
One has to think that the past articles written on CAN, mostly bullish, still have some relevance even today.
https://business.financialpost.com/tag/canaco-resources/
And above all I want to truly know what those guys that took down the PP at 5.40 are thinking, did they sell shares to clients that price? I mean, ouch that would hurt.
We did get a pop with CIBC starting coverage but that was short lived, as have been the reactions to drill results.
Remember folks, Andy Smith was in Denver not even 6 weeks ago (of course a lifetime in the markets) and his presentation used a 3.50SP and market cap north of 650MM!!! So what the hell happened.
Frustrated long that has to give the bashers credit for asking the only questions I want an answer to, why has CAN not recovered any lost ground? My bet is a strategic manipulation and accumulation by someone that has agreed to buy from someone that needs to raise cash.
Also, did the 2012 40MM drill program ever actually get approved by the board? And has the 300K on-site lab been built or started?
GLTA.